Vinekeeper,I have always maintained the jewel in the crown in...

Vinekeeper,

I have always maintained the jewel in the crown in this exercise for ASOF is the listed company. The proviso for that is if they can get ASX waiver to get the stock relisted under the re-capitalisation scheme in the DOCA. I would assume that their corporate advisors would have discussed this with ASX during the Administration period, and obtained their approval in principal. Also given the expertise of the new directors in this area, would indicate that they expect the ASX waiver. This is probably worth more to them than the IP in MST, so in answer to your question yes the Company including it's spread of shareholders is worth more than owing 100%.

However, if they have to go though full chapter one of the listing rules, that is they are forced to undertake a new IPO, I suspect they may walk away as it will be very difficult expensive and time consuming to do so, and may also prove impossible, and more than likely they would not use the MST shell anyway. They would be forced to do this of they were to take 100% of the Company, which is also why I always maintained that the mooted compulsory acquisition was not on the agenda .

Given the other projects that ASOF are involved in, together with the new Directors expertise, it could also be a safe bet that MST may change it's direction over time.